Baltic Dry Index rises further d-o-d on sustained Capesize strength

• BDI hits highest level since Jun’26 on strong Chinese demand
• Index likely to remain firm amid healthy cargo enquiries

The Baltic Exchange’s Dry Bulk Index (BDI) extended its upward momentum on 10 July 2026, rising 1.2% (34 points) d-o-d to 2,944 points, its highest level since early June. The benchmark index rose, reflecting improved sentiment across the dry bulk market, driven by sustained strength in the Capesize segment.

Segment-wise performance

• Capesize: The Baltic Capesize Index (BCI) climbed 1.9% (86 points) d-o-d to 4,655 points, marking its second straight daily advance. The improvement was supported by healthy iron ore and coal cargo demand on the key Australia-China and Brazil-China routes, alongside tighter vessel availability. Market sentiment remained positive as charterers actively covered cargo requirements, allowing owners to secure firmer freight levels.
• Panamax: The Baltic Panamax Index (BPI) stood unchanged at 2,253 points, indicating a balanced market. While coal and grain cargo enquiries remained steady, ample vessel supply and cautious chartering activity limited any significant movement in freight rates.
• Supramax: The Baltic Supramax Index (BSI) increased 0.4% (6 points) to 1,706 points, supported by steady demand for minor bulks and improving regional cargo activity. The segment continued to benefit from consistent fixing activity across Asian and Atlantic trade lanes.

Outlook

The Baltic Dry Index is expected to remain firm in the near term, supported by strong Capesize demand, steady iron ore exports, and healthy cargo enquiries. However, balanced vessel supply and subdued Panamax and Supramax activity may limit further gains, keeping the BDI on a moderately positive trajectory.